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George Jiang

Greenwoods / Jinglin

Greenwoods / Jinglin, China value investing and compounder research

Greenwoods and Jinglin are important for understanding long-term China equity research through a value lens. The public record is useful for studying consumer, internet, and quality-compounder positions, especially when regulation, valuation, and domestic demand change.

Sources Greenwoods Asset Management public profile SEC EDGAR profile Sina profile article Greenwoods official site
China value / long-term compounders CIK 1848138
2026-03-31 Latest 13F 20 Current holdings 91 Last 4 periods Change 2 Public materials
Latest 13F snapshot 2026-03-31 · 25 disclosed positions · $3.9B Top five 61.1%: GOOGL, PDD, NTES, YMM, META

Performance materials

  • Greenwoods does not publish a continuous public fund-level return table for this profile. Public filings and public materials provide the usable record.

Firm and key people

  • George Jiang and the Greenwoods/Jinglin platform are associated with long-term China-focused value investing.
  • The firm studies both Chinese and global businesses, with public holdings showing only part of the portfolio.
  • Public materials and 13F data help connect company quality with China macro and regulatory cycles.

Investment style

  • Look for durable franchises, management quality, and valuation discipline in Chinese and global businesses.
  • Combine position changes with policy, demand, and competitive changes in China.
  • Large, persistent positions matter more than small quarterly adjustments.

Public materials

View timeline
Shareholder letters / memos 0
Interview 1
Public video 0
Public Q&A / speeches / presentations 1

Current holdings

13F period 2026-03-31 · Filed 2026-05-08
Stocks Shares Value Weight
GOOGL 2,921,634 $840.1M 21.7%
PDD 5,103,804 $521.5M 13.4%
NTES 3,190,000 $357.1M 9.2%
YMM 40,957,519 $339.9M 8.8%
META 541,689 $309.9M 8.0%
INTC 6,923,236 $305.5M 7.9%
AMZN 1,004,700 $209.2M 5.4%
FUTU 996,348 $136.3M 3.5%
NVDA 762,748 $133.0M 3.4%
TCOM 2,604,281 $129.7M 3.3%
ATAT 2,591,136 $95.4M 2.5%
BABA 703,009 $88.2M 2.3%
EDU 1,328,218 $75.2M 1.9%
AAPL 248,368 $63.0M 1.6%
HTHT 1,063,181 $53.5M 1.4%
QFIN 3,295,438 $42.5M 1.1%
SE 488,048 $40.4M 1.0%
UNH 130,310 $35.3M 0.9%
TSM 83,052 $28.1M 0.7%
TAL 2,448,817 $27.8M 0.7%

Last 4 quarters US 13F new / increased / reduced / sold-out positions

As of 13F 2026-03-31 · Filed 2026-05-08
Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Stocks Action 13F period Current shares Previous shares Share change 13F value change
META Major reduction 2026-03-31 Filed 2026-05-08 541,689 996,908 -45.7% -$348.1M
INTC Major increase 2026-03-31 Filed 2026-05-08 6,923,236 2,590,400 167.3% +$209.9M
AMZN New 2026-03-31 Filed 2026-05-08 1,004,700 0 - +$209.2M
TCOM New 2026-03-31 Filed 2026-05-08 2,604,281 0 - +$129.7M
AVGO Sold out 2026-03-31 Filed 2026-05-08 0 245,800 -100.0% -$85.1M
NTES Minor reduction 2026-03-31 Filed 2026-05-08 3,190,000 3,212,200 -0.7% -$85.0M
SNPS Sold out 2026-03-31 Filed 2026-05-08 0 163,661 -100.0% -$76.9M
PDD Major increase 2026-03-31 Filed 2026-05-08 5,103,804 3,968,270 28.6% +$71.5M
FUTU Minor reduction 2026-03-31 Filed 2026-05-08 996,348 1,135,821 -12.3% -$50.3M
BABA Major reduction 2026-03-31 Filed 2026-05-08 703,009 843,409 -16.6% -$35.4M
YMM Major increase 2026-03-31 Filed 2026-05-08 40,957,519 28,597,879 43.2% +$33.1M
BEKE Sold out 2026-03-31 Filed 2026-05-08 0 1,793,195 -100.0% -$28.3M
NVDA Minor reduction 2026-03-31 Filed 2026-05-08 762,748 837,907 -9.0% -$23.2M
JKS Sold out 2026-03-31 Filed 2026-05-08 0 780,933 -100.0% -$20.2M
HTHT Major increase 2026-03-31 Filed 2026-05-08 1,063,181 842,822 26.1% +$13.8M
XBI Sold out 2026-03-31 Filed 2026-05-08 0 68,265 -100.0% -$8.3M
LITE New 2026-03-31 Filed 2026-05-08 10,822 0 - +$7.6M
MMYT Major increase 2026-03-31 Filed 2026-05-08 388,557 256,900 51.2% -$6.6M
ATAT Minor increase 2026-03-31 Filed 2026-05-08 2,591,136 2,290,136 13.1% +$5.1M
AAPL Major increase 2026-03-31 Filed 2026-05-08 248,368 213,104 16.5% +$5.1M
GOOGL Minor increase 2026-03-31 Filed 2026-05-08 2,921,634 2,690,000 8.6% -$1.8M
SE Major increase 2026-03-31 Filed 2026-05-08 488,048 324,147 50.6% -$936,178
TSM Minor reduction 2026-03-31 Filed 2026-05-08 83,052 89,826 -7.5% +$770,200
TAL Minor reduction 2026-03-31 Filed 2026-05-08 2,448,817 2,597,180 -5.7% -$492,185
GOOGL Major increase 2025-12-31 Filed 2026-02-06 2,690,000 1,760,320 52.8% +$414.0M
NVDA Major reduction 2025-12-31 Filed 2026-02-06 837,907 2,378,757 -64.8% -$287.6M
META Major reduction 2025-12-31 Filed 2026-02-06 996,908 1,225,964 -18.7% -$242.3M
AVGO New 2025-12-31 Filed 2026-02-06 245,800 0 - +$85.1M
XBI Major reduction 2025-12-31 Filed 2026-02-06 68,265 555,015 -87.7% -$47.3M
BEKE Major reduction 2025-12-31 Filed 2026-02-06 1,793,195 3,676,995 -51.2% -$41.6M
SE Major reduction 2025-12-31 Filed 2026-02-06 324,147 411,144 -21.2% -$32.1M
INTC Major increase 2025-12-31 Filed 2026-02-06 2,590,400 1,896,037 36.6% +$32.0M
HTHT Major increase 2025-12-31 Filed 2026-02-06 842,822 360,000 134.1% +$25.6M
UBER Sold out 2025-12-31 Filed 2026-02-06 0 244,670 -100.0% -$24.0M
UNH Major reduction 2025-12-31 Filed 2026-02-06 130,310 167,432 -22.2% -$14.8M
FUTU Minor increase 2025-12-31 Filed 2026-02-06 1,135,821 996,348 14.0% +$13.2M
TSM Major reduction 2025-12-31 Filed 2026-02-06 89,826 131,264 -31.6% -$9.4M
SPOT Sold out 2025-12-31 Filed 2026-02-06 0 13,226 -100.0% -$9.2M
WRD Major reduction 2025-12-31 Filed 2026-02-06 2,201,800 2,684,200 -18.0% -$7.5M
PDD Major increase 2025-12-31 Filed 2026-02-06 3,968,270 3,356,964 18.2% +$6.3M
SNPS Minor reduction 2025-12-31 Filed 2026-02-06 163,661 165,459 -1.1% -$4.8M
GOOGL Major increase 2025-09-30 Filed 2025-11-10 1,760,320 184,942 851.8% +$395.3M
NVDA Major increase 2025-09-30 Filed 2025-11-10 2,378,757 630,440 277.3% +$344.2M
META Major increase 2025-09-30 Filed 2025-11-10 1,225,964 991,342 23.7% +$168.6M
PDD Minor increase 2025-09-30 Filed 2025-11-10 3,356,964 3,219,839 4.3% +$106.7M
BABA Major increase 2025-09-30 Filed 2025-11-10 843,409 465,000 81.4% +$98.0M
SNPS New 2025-09-30 Filed 2025-11-10 165,459 0 - +$81.6M
ATAT Major increase 2025-09-30 Filed 2025-11-10 2,290,136 210,700 986.9% +$79.2M
UNH New 2025-09-30 Filed 2025-11-10 167,432 0 - +$57.8M
XBI New 2025-09-30 Filed 2025-11-10 555,015 0 - +$55.6M
AAPL New 2025-09-30 Filed 2025-11-10 213,104 0 - +$54.3M
SE Major increase 2025-09-30 Filed 2025-11-10 411,144 179,759 128.7% +$44.7M
DQ Sold out 2025-09-30 Filed 2025-11-10 0 2,672,161 -100.0% -$40.5M
YMM Minor reduction 2025-09-30 Filed 2025-11-10 28,597,879 28,794,527 -0.7% +$30.9M
WRD New 2025-09-30 Filed 2025-11-10 2,684,200 0 - +$26.6M
MMYT New 2025-09-30 Filed 2025-11-10 256,900 0 - +$24.0M
UBER New 2025-09-30 Filed 2025-11-10 244,670 0 - +$24.0M
TCOM Sold out 2025-09-30 Filed 2025-11-10 0 377,500 -100.0% -$22.1M
NTES Minor reduction 2025-09-30 Filed 2025-11-10 3,212,200 3,486,000 -7.9% +$19.1M
INTC Minor reduction 2025-09-30 Filed 2025-11-10 1,896,037 2,035,073 -6.8% +$18.0M
FUTU Major reduction 2025-09-30 Filed 2025-11-10 996,348 1,531,389 -34.9% -$16.0M
MSFT Sold out 2025-09-30 Filed 2025-11-10 0 28,650 -100.0% -$14.3M
BEKE Major reduction 2025-09-30 Filed 2025-11-10 3,676,995 4,640,706 -20.8% -$12.5M
SPOT New 2025-09-30 Filed 2025-11-10 13,226 0 - +$9.2M
HTHT Major increase 2025-09-30 Filed 2025-11-10 360,000 176,800 103.6% +$8.1M
ONC Sold out 2025-09-30 Filed 2025-11-10 0 15,502 -100.0% -$3.8M
CSIQ Sold out 2025-09-30 Filed 2025-11-10 0 335,183 -100.0% -$3.7M
TAL Minor reduction 2025-09-30 Filed 2025-11-10 2,597,180 2,671,361 -2.8% +$1.8M
TSM Major reduction 2025-06-30 Filed 2025-08-08 131,264 1,574,557 -91.7% -$231.6M
PDD Major reduction 2025-06-30 Filed 2025-08-08 3,219,839 4,635,519 -30.5% -$211.6M
AAPL Sold out 2025-06-30 Filed 2025-08-08 0 782,255 -100.0% -$173.8M
META Minor increase 2025-06-30 Filed 2025-08-08 991,342 969,277 2.3% +$173.0M
NTES Minor reduction 2025-06-30 Filed 2025-08-08 3,486,000 3,575,098 -2.5% +$101.2M
NVDA New 2025-06-30 Filed 2025-08-08 630,440 0 - +$99.6M
BABA Major reduction 2025-06-30 Filed 2025-08-08 465,000 601,142 -22.6% -$26.8M
GOOGL Major increase 2025-06-30 Filed 2025-08-08 184,942 45,990 302.1% +$25.5M
QFIN Major increase 2025-06-30 Filed 2025-08-08 3,295,438 2,688,992 22.6% +$22.1M
SE Major increase 2025-06-30 Filed 2025-08-08 179,759 90,734 98.1% +$16.9M
BEKE Minor reduction 2025-06-30 Filed 2025-08-08 4,640,706 4,771,806 -2.7% -$13.5M
HSAI Major reduction 2025-06-30 Filed 2025-08-08 40,291 748,553 -94.6% -$10.2M
FWONK Major reduction 2025-06-30 Filed 2025-08-08 9,680 122,645 -92.1% -$10.0M
YMM Minor increase 2025-06-30 Filed 2025-08-08 28,794,527 25,995,141 10.8% +$8.1M
ATAT New 2025-06-30 Filed 2025-08-08 210,700 0 - +$6.8M
HTHT New 2025-06-30 Filed 2025-08-08 176,800 0 - +$6.0M
CSIQ Major reduction 2025-06-30 Filed 2025-08-08 335,183 1,115,861 -70.0% -$6.0M
FUTU Major reduction 2025-06-30 Filed 2025-08-08 1,531,389 1,901,635 -19.5% -$5.4M
TAL Minor increase 2025-06-30 Filed 2025-08-08 2,671,361 2,448,817 9.1% -$5.0M
EDU Minor reduction 2025-06-30 Filed 2025-08-08 1,328,218 1,396,039 -4.9% +$4.9M
INTC Minor reduction 2025-06-30 Filed 2025-08-08 2,035,073 2,179,995 -6.6% -$3.9M
TCOM Minor reduction 2025-06-30 Filed 2025-08-08 377,500 383,543 -1.6% -$2.2M
ONC Major increase 2025-06-30 Filed 2025-08-08 15,502 9,329 66.2% +$1.2M

Public video / Interview / Shareholder letter / Public Q&A

2 reliable public materials
Public speech

Jiang Jinzhi talks about value investing and opportunities in China

Related articles from China Europe International Business School collate Jiang Jinzhi’s public views on value investing, Chinese enterprises and long-term opportunities, which is a supplement to Jinglin’s Chinese public information.

  • The material discusses value investing in the Chinese business environment, emphasizing corporate competitiveness, management and long-term growth.
  • Such public views can help understand why Jing Lin has been paying attention to companies related to China's Internet, consumption and manufacturing upgrades for a long time.
  • Central and European sources are relatively stable and can be used as Chinese education/speech materials instead of relying on short video transfers.
  • These views do not map directly to current positions, especially since there are disclosure differences between the 13F and China/HK true portfolios.
  • This information supplements Chinese background materials that are not easily available in the English market.
Interview

Jiang Jinzhi: Investment is a long-distance race

Sina Finance’s public report on Jinglin Asset Jiang Jinzhi introduces his long-term investment framework, reverse thinking and focus on high-quality Chinese enterprises. It is a more usable character entry in Chinese public information.

  • The data emphasizes long-term, fundamentals and corporate quality, which can explain the long-term holding tendency of Internet, consumer and platform companies in the Jinglin portfolio.
  • Jiang Jinzhi's public expressions are more like an institutional investment framework than a short-term trading view.
  • This piece of information has a clear release date and media source, and can be used as a source of Chinese character information.
  • It should be noted that Greenwoods' 13F only shows part of its overseas/ADR exposure, and Chinese and Hong Kong stock positions need to be marked separately.
  • The material is suitable for cross-reading with the Chinese concept stocks, Internet platforms and consumer companies in Jinglin 13F.